MINSK, 18 June (BelTA) - Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDRs) of BPS-Sberbank, Belgazprombank and BelVEB at 'B'. The Outlooks on the IDRs are Stable, BelTA learned from the agency.
“The affirmation of the IDRs reflects Fitch's view of the likelihood of the availability of institutional support for these banks in case of need from their respective parents, some of Russia's largest state-owned financial institutions,” Fitch said.
BPS-Sberbank is 98.4%-owned by Sberbank of Russia, BelVEB is 97.5%-owned by Vnesheconombank,and Belgazprombank is jointly owned by Gazprom and Gazprombank, each with a 49.82% stake.
Belgazprombank recently received a new equity contribution. There are no plans for such injections for the other two banks, but Fitch believes parental capital support will be available for all three banks, if needed. BPS-Sberbank, Belgazprombank and BelVEB from time to time have received equity and subordinated debt from their parents.
